Which of the Following Statements About the Budget Deficit Is

question 191

Multiple Choice

Which of the following statements about the budget deficit is true?

• A)From 2007-2009,the federal budget was balanced.
• B)In 2009,the budget deficit was a record $1.4 trillion.
• C)In 2016,the federal budget was in surplus.
• D)In 2017,the federal budget was balanced.

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Definitions:

Business Value

The importance or worth of something to a business, including tangible and intangible benefits that contribute to the company's success.

Balance Sheet

Also known as a “statement of financial position”; reveals a company’s assets, liabilities and owner’s equity (net worth).

Financial Position

Refers to the status of an entity's assets, liabilities, and equity at a specific point in time, providing insight into its economic situation.

Petty Cash Fund

A small amount of cash on hand used for covering minor expenses, managed through a specific accounting methodology.